Hand, Foot, and Mouth Disease Treatment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027
The global hand, foot, and mouth disease treatment market is anticipated to observe impressive growth during the forecast period, 2023-2027. The major factors include growing incidences of viral infections, and extensive research and development are propelling the growth of the market, globally. Hand, foot, and mouth disease also abbreviated as HFMD is a contagious disease which is caused by enterovirus genus majorly Coxsackievirus A16 and enterovirus A71. These viruses are majorly detected in children below age 10 and is usually spread through skin-to-skin contact, airborne respiratory droplets or by saliva. The other factors supporting the market’s growth are, the increasing government investments on R&D activities, growing footprint of pharmaceutical manufacturers, developed healthcare infrastructure, rising awareness among the masses, and technological advancements. Also, ease in FDA approvals for hand, foot, and mouth disease (HFMD) drugs in clinical trial phase is further projected to drive the growth of hand, foot, and mouth disease treatment market.
High Prevalence of Viral Infection
Viral infections are very common in children below age 10 as they have very low immunity, and they often tend to put their hands in mouth. Hand, foot, and mouth disease (HFMD) is caused by a virus from the Enterovirus genus, most commonly the coxsackievirus. These viruses are transmitted from infected person to other. Owing to the large patient pool due to HFMD, the demand for hand, foot and mouth disease treatment is upsurging. Moreover, growth of the health care industry due to the growing incidences of viruses across the globe is facilitating the market growth. For instance, from 2013−2019, 15,316,710 probable cases of HFMD were reported. Out of these, 787,197 (5·1%) were laboratory confirmed and 76,982 (0·5%) were severe.
Growing Awareness and Research
Over the past few years, increase in awareness among masses about the hand, foot and mouth diseases is seen. Various awareness programs are initiated by governments of different nations, which are propelling the growth of the market. Hand, foot, and mouth disease is widespread pediatric disease which occurs in children under the age of 5. Owing to the rise in number of patients suffering from HFMD, demand for the drug discovery research is rising. This, in turn, propels the market growth. For instance, according to Iranian Journal of Public Health, a study conducted from 2008 to 2015 revealed the incidence of HFMD grew rapidly from 86.59/100,000 in 2009 to 203.16/100,000 in 2014. Moreover, heavy investments by governments and market players on R&D activities and clinical trials, are bolstering the market growth.
Market Segmentation
The global hand, foot, and mouth disease treatment market is segmented into drug type, route of administration, distribution channel, and company. Based on drug type, the market is divided into pain relievers, non-steroidal anti-inflammatory drugs, and nucleoside analogue antivirals. Based on route of administration, the market is divided into topical, oral, and intravenous. Based on distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. In terms of country, the United States is expected to be a lucrative market in the forecast period due to rising research and development activities in the country.
Market Players
Johnson & Johnson, GlaxoSmithKline plc., Emergex Vaccines Holdings Ltd, Takeda Pharmaceutical Co Ltd, CJ HealthCare Corp., and Adimmune Corp are some of the leading companies operating in the market.
Report Scope:
In this report, global hand, foot, and mouth disease treatment market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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